Posted To: MND NewsWire

The Department of Housing and Urban Development (HUD) has extended the timeframe for several of the relief programs it put into effect last spring through its Federal Housing Administration (FHA) to help lenders, servicers, and homeowners cope with the COVID-19 crisis. FHA’s eviction and foreclosure moratoriums have been extended for an additional two months, through February 28, 2021. These moratoriums prohibit servicers from initiating or proceeding with foreclosure and foreclosure-related eviction actions for FHA-insured single family forward and reverse mortgages, except for those secured by legally vacant and abandoned properties. This is the fourth time these moratoriums have been extended. The period to request an initial COVID 19 forbearance plan has also been extended through the end…(read more)

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Source: Mortgage News Daily